York Capital Management
{{Short description|Global hedge fund}}
{{Infobox company
| name = York Capital Management
| logo =
| logo_size =
| logo_alt =
| type = LLC
| industry = Hedge fund
| founded = {{Start date and age|1991}}
| founder = Jamie Dinan (CEO)
| location = 767 5th Avenue, New York City, NY
International Offices in London, England, Hong Kong
| area_served = Worldwide
| aum = US$ 18.5 billion
(as of June 30, 2019){{cite news|title=The largest managers of hedge funds (P&I Sep 2019)|url=https://www.pionline.com/special-report-hedge-funds/largest-managers-hedge-funds|access-date=15 October 2019|agency=Crain Communications Inc|issue=Special Report Hedge Funds|publisher=Pensions & Investments|date=16 September 2019|location=United States|language=en|url-access=limited}}
| num_employees =
| homepage = http://www.yorkcapital.com
}}
York Capital Management is a global institutional investment management firm with approximately $18.5 billion in assets under management as of June 2019. The firm was founded in 1991 by Jamie Dinan.
York Capital is headquartered in New York City, with additional offices in London and Hong Kong. As of December 2012, York Capital was ranked as the 20th largest hedge fund in the world.[https://www.thehedgefundjournal.com/sites/default/files/hfj-us50-2012.pdf: "Hedge Fund Journal"]
In 2010, Credit Suisse acquired a 30% stake in York Capital for $425 million.[https://www.wsj.com/articles/SB10001424052748703376504575491962889003330: "Wall Street Journal"][https://dealbook.nytimes.com/2010/09/14/credit-suisse-to-take-stake-in-york-capital: "New York Times Deal Journal"]
History
York Capital was founded in 1991 by Jamie Dinan and named after the street he was then living on, York Avenue.[https://www.bloomberg.com/apps/news?pid=newsarchive&sid=aVUQ2LyoqQ3U Bloomberg: "York Capital's Dinan Finds Value in Tel Aviv Funds, Tyco Duplex" By Richard Teitelbaum] September 7, 2006 Jamie Dinan started his career at the merger arbitrage firm Kellner DiLeo & Company. In 1987, the market crashed and he lost his entire $600,000 in savings. In 1991, he was able to raise $3.6 million from his former DLJ colleagues and started York Capital. In 1993, his fund earned credibility with a 33.8 percent return and by 2000, the fund had over $610 million in assets.
In February 2023, York Capital Management portfolio company American Car Center ended operations.{{cite news |last1=Arroyo |first1=Carmen |title=Subprime Auto Lender American Car Center Closes for Business |url=https://www.bloomberg.com/news/articles/2023-02-25/subprime-auto-lender-american-car-center-closes-for-business?sref=CIpmV6x8 |access-date=25 February 2023 |work=Bloomberg.com |date=25 February 2023 |language=en}}
Investment strategies
York Capital uses a fundamental analysis, bottom-up approach to make its investments. The firm focuses on three event-driven investing strategies: merger and acquisition transactions, distressed securities and restructuring opportunities and special situation equity investing.
York Capital Funds
References
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{{Hedge funds |state=collapsed}}
{{DEFAULTSORT:York Capital Management}}
Category:Hedge fund firms in New York City